Obama Should Have Checked His Math Before Smearing Wealthy

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In his Monday speech in the Rose Garden detailing his $3 trillion deficit reduction plan, which relies heavily on raising taxes on the wealthiest Americans, President Barack Obama quipped, “This is not class warfare—it’s math.”

Unfortunately, all too often President Obama seems to define individuals making $200,000 a year or more, or families making $250,000 or more, as “millionaires” and “billionaires,” given all the actual and potential tax hikes (ObamaCare individual mandate, the $6.20 tax per carton of cigarettes, the 10 percent tax on indoor tanning, just to name a few) favored by the current administration.

President Obama’s sudden concern for deficit reduction is also hard to square with the fact that under his administration, the United States has added $4 trillion to the national debt, the fastest increase in debt under any U.S. president. And we haven’t even hit the three-year mark of the Obama presidency.